A report released last week suggests the Tennessee Lottery proceeds that pay for many of the state’s college and technical education scholarships will not cover the programs’ costs from now through 2030.
Our solution to the problem is a simple one. It’s the same one the Tennessee legislature annually must adhere to. It’s the same one that governs most of our homes. It’s the same one we wish the federal government would adopt.
Spend less.
Whatever the projected amounts are for the scholarships, adjust them until the costs and the revenue are in balance. Yes, that may mean little sister gets less than her older brother did to assist with her college education. But whatever she gets is more than what her parents would be faced with paying were there no Tennessee Lottery scholarship at all.
If that seems cruel, again, it is the reality of life. In tight revenue years, the legislature must cut back on capital projects, give lower raises and not increase hiring. A family must eschew that Colorado ski vacation for a few days in Pigeon Forge, and Mom and Dad must restrict their daily Starbucks drinks.